Dividends Declared in 2026: Malawi MSE Companies — Amounts & Payment Dates

Last updated: July 18, 2026 | Reading time: ~6 minutes

Malawi's stock market has spent two years as one of the world's unlikeliest bull markets — the MSE All Share Index sits above 513,000 — and the 2026 dividend season shows the earnings engine behind it. National Bank of Malawi declared a record MK197.92 per share in total for FY2025 (about MK92.4 billion). Standard Bank Malawi has paid two interim dividends already in 2026. NBS Bank more than doubled its payout.

This tracker covers MSE-listed companies with dividend events in 2026, verified against company results announcements.

Quick summary:

• The big three banks all raised. NBM's FY2025 total of MK197.92 per share is the exchange's largest distribution; NBS Bank's proposed MK25 total is up 108%; Standard Bank Malawi has declared interims of MK14.23 (March) and MK15.47 (July).
• The rally has compressed yields. After the MSE's multi-year surge, even record payouts land at roughly 0.7–3.6% of today's share prices — income here comes with (and after) enormous capital gains.
• Malawi withholds 10% on dividends, deducted at source.
• Banking dominates: Standard, FMB Capital, NBM, FDH and NBS are five of the eight largest listings, so bank declaration season is dividend season.

> Track live Malawi market data on the MSE market desk, or compare payouts across the continent in the 2026 African dividends tracker.

## Dividend Events in 2026

NBM's FY2025 total — first interim (Oct 2025), second interim and final — comes to MK197.92 per share. Amounts are gross, before the 10% withholding deduction.

## Company Notes

National Bank of Malawi — MK197.92 total for FY2025. Press Corporation's banking crown jewel remains the exchange's profit machine, and its FY2025 distribution of roughly MK92.4 billion is the largest in MSE history: a first interim paid in October 2025, a second interim of MK23.5 billion in April 2026, and a final of MK52.2 billion approved at the June AGM.

Standard Bank Malawi — twin interims. Malawi's largest listed company by market value declared MK14.23 per share on 11 March 2026 and followed with MK15.47 in July — a pattern of frequent interim distributions as profits keep compounding under high interest rates.

NBS Bank — payout more than doubled. The NICO-affiliated retail bank proposed a total of MK25 per share for FY2025, up 108% on the prior year — the sharpest dividend growth on the exchange, capping its turnaround from near-distress in the late 2010s to consistent profitability.

## What Stood Out This Season

Record payouts, compressed yields. The MSE's surge means even NBM's record MK197.92 lands around a 2% yield at current prices (roughly MK9,700 per NBM share on our Malawi desk). Malawian equities have become a capital-gains story with a growing income stream, not a yield play.

The interim habit. Standard's two interims and NBM's three-tranche FY2025 spread cash through the year instead of one AGM-season lump — worth knowing if you're building an income calendar around the MSE.

Still to come. FMB Capital, FDH Bank, NICO Holdings, Airtel Malawi and Illovo Sugar all have payout histories; this tracker adds their 2026 declarations as they are confirmed.

## How Malawi's Dividend Tax Works

Malawi applies a 10% withholding tax on dividends, deducted at source as a final tax.

## How to Track MSE Dividends

Our Malawi dividend calendar carries declared MSE dividends with dates and USD equivalents. For the continental picture, see the 2026 African dividends tracker.

## FAQ

Which Malawian companies have declared dividends in 2026? National Bank of Malawi (FY2025 total MK197.92 per share, paid across three tranches into mid-2026), Standard Bank Malawi (interims of MK14.23 in March and MK15.47 in July) and NBS Bank (MK25 total proposed for FY2025, up 108%).

What is the dividend withholding tax in Malawi? 10%, deducted at source.

Which MSE stock pays the biggest dividend? National Bank of Malawi — MK197.92 per share in total for FY2025, roughly MK92.4 billion.

## Sources

• National Bank of Malawi Plc — audited FY2025 results summary (dividend resolutions)
• Standard Bank Malawi Plc — interim dividend declarations (11 Mar 2026 and Jul 2026)
• NBS Bank Plc — 2025 abridged report (16 Mar 2026)
• Malawi Revenue Authority — withholding tax on dividends
• Mansa Markets Malawi dividend calendar

This tracker is for informational purposes only and does not constitute investment advice. Declared amounts and dates can change if companies amend payment schedules after publication.